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The markets opened on a positive note, with a jobless claims report that remained at a four-year low. That was offset by an unexpected slowdown in the manufacturing sector, but the major indices managed to hold onto their gains.

Starting with jobs data, the Labor Department is reporting that weekly jobless claims declined by 2,000 to a seasonally adjusted 351,000, which was in line with economists expectations.

Some not so good news coming from the Institute for Supply Management which is reporting that the pace of growth in the manufacturing sector fell to 52.4 in February, while economists had expected a reading of 54.5.

In earnings news, supermarket chain Kroger (KR) beat expectations with earnings which were 14 percent higher in the fourth quarter. Shares of the Cincinnati-based company are trading higher today.

Target (TGT), Limited Brands (LTD) and Macy's (M) were among the retailers which posted better-than-expected sales for February.

Walmart is boosting its dividend 9 percent to $1.59 a share, keeping with an annual tradition of raising its shareholder payout.